Powerhouse Energy Group PLC (AIM:PHE, ETR:BT81) has agreed to extend the availability period for the loan facility it provided to Protos Plastics to Hydrogen No. 1 Limited.
The loan facility for the special purpose vehicle (SPV) has been extended until 31 August 2022 to support the expected time frames for negotiation and completion of contractual arrangements by the SPV that are required for the commencement of the first build at Protos, in the UK.
The company’s priority remains to ensure the first hydrogen facility using its DMG technology, based at its UK partner Peel NRE’s Protos site, becomes operational during 2023.